Armonk, N.Y. and Malmö, Sweden, June 11, 2007...IBM (NYSE:
IBM) today announced a cash tender offer for all outstanding shares of Telelogic
AB (Nordic Exchange/MidCap/TLOG). The offer price is 21 Swedish Kronor per
share, for an aggregate purchase price of approximately 5.2 billion Swedish
Kronor (or approximately $745 million).
Telelogic is a leading provider of
software development solutions, with more than 8,000 customers worldwide,
primarily in the aerospace and defense, telecommunications and automotive
industries. Headquartered in Malmö, Sweden, with U.S. headquarters in Irvine,
California, Telelogic has more than 1,100 employees and operations in 22
countries worldwide. In 2006, Telelogic reported revenues of approximately
$208M, including approximately $89M in license revenue and representing
year-to-year growth of 20% overall.
Armonk, N.Y. and Malmö, Sweden, June 11, 2007...IBM (NYSE:
IBM) today announced a cash tender offer for all outstanding shares of Telelogic
AB (Nordic Exchange/MidCap/TLOG). The offer price is 21 Swedish Kronor per
share, for an aggregate purchase price of approximately 5.2 billion Swedish
Kronor (or approximately $745 million).
Telelogic is a leading provider of
software development solutions, with more than 8,000 customers worldwide,
primarily in the aerospace and defense, telecommunications and automotive
industries. Headquartered in Malmö, Sweden, with U.S. headquarters in Irvine,
California, Telelogic has more than 1,100 employees and operations in 22
countries worldwide. In 2006, Telelogic reported revenues of approximately
$208M, including approximately $89M in license revenue and representing
year-to-year growth of 20% overall.
Telelogic products help organizations define, model, build, test, deliver
and govern the development of software used in complex systems such as aircraft
radar or a car's anti-lock braking system. Together, IBM, Telelogic, and
business partners, will accelerate a customer's ability to develop high-quality
complex systems. Clients will benefit from the combined technologies and
services of both companies, providing them a wider range of software and system
development capabilities used to build complex systems.
For example, a consumer electronics company could use IBM and
Telelogic technologies to help design the software in an intelligent home
network that controls the entertainment devices, security systems, appliances,
and lighting. An automotive manufacturer would use IBM and Telelogic solutions
to help build and deliver software that runs the navigation systems in
vehicles.
"From today's next generation
entertainment devices to tomorrow's space-information systems, software is the
lifeblood of complex systems," said Dr. Danny Sabbah, general manager, IBM
Rational Software. "IBM's acquisition of Telelogic will complement our entire
portfolio to help our clients drive efficient and effective software development
processes that are vital to product delivery."
-more-
"This acquisition will provide our clients with enhanced
capabilities to develop and deploy complex systems on a global basis," said
Anders Lidbeck, president and CEO, Telelogic. "IBM and Telelogic clients will be
able to leverage a broader set of capabilities without the need to replace
existing systems."
IBM will acquire the
outstanding shares of Telelogic AB after IBM obtains acceptance from more than
90% of the stock ownership in Telelogic, after receipt of all necessary
regulatory, governmental or similar clearances, approvals and decisions, in each
case on terms which in IBM's opinion are acceptable, and after the offer has
been declared unconditional. Upon acquisition close, Telelogic will become part
of the Rational Software division of IBM, reporting to Dr. Danny Sabbah, general
manager of IBM Rational Software.
This is
not the formal announcement of the offer for Telelogic AB. The formal
announcement of the offer, that has been drawn up and made public in accordance
with Swedish laws and regulations, can be found on
www.ibm.com/software/rational/welcome/telelogic/.
About Telelogic
Telelogic is the leading global provider of software solutions for
Enterprise Lifecycle Management (ELM). Award-winning Telelogic software helps
customers design, develop, and deliver the world's most advanced and innovative
products, systems, and software more efficiently by aligning and optimizing
development lifecycles and business processes with business objectives and
customer needs. Telelogic helps customers improve quality and predictability
while reducing time-to-market and overall costs. Headquartered in Malmö, Sweden
with U.S headquarters in Irvine, California, Telelogic conducts business in more
than 40 countries. More than one third of the Fortune Global 500 companies use
Telelogic software including marketing-leading aero/defense, automotive,
financial services, software/electronic and telecommunications companies and
governments worldwide. For more information, see
www.telelogic.com.
About
IBM
For more information about IBM, go to
www.ibm.com/software/rational/.
Leigh Ann Schmidt
IBM Software
Group
Media Relations
914-766-1362 (office)
203-942-9594
(cell)
leighanns@us.ibm.com
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